Many large crypto mining operators are moving out of China

[mamamu111]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

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[wack slacker]

This article is for speculation only. There has been no confirmation yet from mining pools from China.
Currently, on the Bitcoin mining map, China is still the mining country with the largest hash rate in the world.

Watch at the link below

https://chainbulletin.com/bitcoin-mining-map/

[BitTraderCute]

if really happen , for long term goal its good for crypto market. china as biggest miner in the world could not controll of make fud anymore. we will really see decentralized market if miners spreaded around the world. market will be healthier than before and i see bullish trend stronger than before. we will see in couple weeks is it will really happen or not.

[Jackl87]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

It would not surprise me if some of the big mining companies in china are looking into moving to another country now that china made a move against crypto as a whole again. I recently invested into a project where every token you own represents a mining hash rate for BTC and ETH and they have mining pools in china but also one in mongolia, therefore i could really see some companies moving from china to mongolia in the future. Central europe will never be that big in the mining business because the prices for electricity there are simply too high.

[wack slacker]

if really happen , for long term goal its good for crypto market. china as biggest miner in the world could not controll of make fud anymore. we will really see decentralized market if miners spreaded around the world. market will be healthier than before and i see bullish trend stronger than before. we will see in couple weeks is it will really happen or not.

Decentralization is happening, we only see them as a concern because miners are concentrated in China and fear they collude to attack 51%. That's just a possibility, it's really unlikely.

refer to the link below
https://academy.binance.com/en/articles/osystem-pools-explained

The truth is that no matter where they go, they are Chinese and they will choose the most profitable place to mine.

[MadeMen]

The Chinese government move against cryptocurrency must have impacted negatively to the mining community and industries in China, but China still holds the record for housing the highest number of mining industries in the world. The hash rate coming from China is huge and I don't see that changing anytime soon.

[cryptomaniac_xxx]

Not new, how many times did we hear Chinese government banning bitcoin mining? let me give you a hint it's during bitcoin's bull run (2013,2017). So I'm not surprised by the announcement again.

And large bitcoin mining farm such as Bitmain has already a back up plan. As far as I can remember, they are building a huge farm in Texas USA. So they are prepared, in case this ban happens. And it will be good in the long run, so that the Chinese won't have the monopoly with regards to bitcoin mining.

[avikz]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

The government of China is authoritarian by nature. They understand that cryptocurrency can potentially provide financial freedkm to their people which could in turn challenge the stability of their authoritarian regime. Like every other problem, they are now trying to uproot this problem from their soil. But that's not the end really! Wait for some more days, they will legally ban every single cryptocurrencies and all related transactions. They will also impose a punitive action if anyone is found dealing in cryptos. They are good in uprooting any challenges and they will try their best in this case as well.

[kryptqnick]

If an article is merely speculating, it's too early to discuss this. However, with China being hostile to cryptos and to freedom in general, I think now is the time for mining farms to seriously consider relocation. Moving mining away from China could make mining greener (because China's big on coal) and even make China a little greener (although they'll probably just increase their carbon footprint in some other way). Also, it could help stabilize the mining operations without the risk of being banned like the one that miners in Inner Mongolia are facing now. And that would also decrease the power China's having over Bitcoin mining. So I believe it would overall be good if miners relocate.

[Atang Sulaeman]

it looks like the news is being repeated as if back in 2017 the Chinese government banned crypto as a result of which the most mining has been in China until now. It is only a matter of time whether crypto in China will be deleted for as long as possible.

[Review Master]

It's really great news for bitcoiners that miners are moving out from there because drama of china ban news won't have any effect on the mining hashrate or crypto industry like previous as China did this many times when bull run is going on. Not only this, many mining farms are looking forward to use more green engery or renewable engry so that it won't effect our environment which is the best for us, IMHO.

[santiPOGI]

I heard that China so far banned bitcoin and other cryptocurrency, not so sure if this is true or not. One thing for sure I know is that
Facebook, Tiktok, Reddit, Twitter are already banned, in which I think this country is so boring now. By the way, if crypto mining operators
are moving out of China well they have a valid reason to do it.

[Sithara007]

Is this move even viable? The advantage with China is that they have the cheapest electronics and (one of) the cheapest rates for electricity. In no other country you will get the same combination. Take the case of Russia, the electricity is cheap. But the hardware needs to be imported and that is not going to be cheap. If you take the case of Malaysia, it is the other way around. Electricity is expensive, but the hardware is cheap. The mining farms may move to other countries, but it will be difficult for them to remain profitable.

[cryptoaddictchie]

This is a recycle news. Someone reading script and sharing it on social medias. Its same on what they did before creating fud just to let the prife go down and so they can buy their bags. I'm sure if they are done buying they will release another news that favor crypto now. Hence market will go up and they profited again. Easy money, for country who knows the game about trading. China is powerful they can do this and act like they are really against anyone but that only is a prank.

[Teraboy]

The media is going crazy again by spreading this misleading news. The fact that so many miners are still in CN and there's no even any confirmation about that. it's just a rumor.
So many people are getting fallen on this garbage news. I think that moving out from china is not an easy task because there must be lots of analyzations.
I don't think the mining operators in china will be moving to the another country

[Henrobakkara]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

I want to believe that Bitcoin mining is lucrative in the sense of profit generation from mining and if this is the case, are there no other countries with Greener energy generation that could involve in Bitcoin mining instead of all this concentration in china?

I agree with @BitTraderCute view here

if really happen, for long-term goal it's good for crypto market. China as biggest miner in the world could not control of make fud anymore. we will really see decentralized market if miners spread around the world. market will be healthier than before and I see bullish trend stronger than before. we will see in couple weeks is it will really happen or not.

If crypto is the definition of Decentralization then, mining should be too and not a concentration which results to control.

[jrrsparkles]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

Its good for the miners but do they actually move?

I doubt it so because China is one of the country with cheap electricity fee that is the reason why many miners are coming from that region.

China banned bitcoin and mining operations on multiple occasions in the past 10 years but still they allows them to operate.

[HardCore12V]

But pools from China are still functioning mate, if this is true they would have stopped offering services already, I think this is a prediction of what may happen in near future but not presently

[Hypnosis00]

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  READ THE COMPLETE ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/05/28/many-large-crypto-mining-operators-are-moving-out-of-china/

That could really be threatening to their community but not in crypto. But no matter how strict is their government, people will find a way just to continue mining, and the fact that they are moving to other country, this means that China's campaign against crypto have no impact to the current trend.

But I was seeing some negative impacts to the blockchain confirmation and possible long delays if the number of mining industry are decreasing. And we know how it was important.

[Bilgent]

They are right about leaving China. Because China didn't just ban cryptocurrencies they also cracked down on Bitcoin mining. Therefore, there is no meaning for miners to stay there longer.